Disney Stock Is Sliding Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Disney (DIS) shares are sliding, potentially in sympathy with Comcast (CMCSA), which reported declines in Studio and Theme Parks revenue. Comcast's stock fell over 4% after mixed Q2 results, with significant drops in Studios and Theme Parks revenue. Disney is set to report its Q3 results on Aug. 7, with analysts expecting earnings of $1.18 per share and revenue of $23.024 billion.
July 23, 2024 | 6:20 pm
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Comcast shares fell over 4% after reporting mixed Q2 results, with significant declines in Studios and Theme Parks revenue. Studios revenue decreased 27% YoY, and Theme Parks revenue fell 10.6% YoY.
Comcast's significant revenue declines in key segments have led to a sharp drop in its stock price. Investors are concerned about the company's short-term performance, especially in Studios and Theme Parks.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Disney shares are down 2.98%, potentially in sympathy with Comcast's reported declines in Studio and Theme Parks revenue. Disney is set to report its Q3 results on Aug. 7, with analysts expecting earnings of $1.18 per share and revenue of $23.024 billion.
Disney's stock is reacting negatively, likely due to concerns that similar revenue declines reported by Comcast could affect Disney's upcoming earnings report. The market is cautious ahead of Disney's Q3 results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100